The stated mission of the BEA is to promote a better understanding of the U.S. economy by providing the timeliest, relevant, and accurate economic accounts data in an objective and cost-effective manner. The published statistics created by BEA are consulted for economic predictions that are used in important decisions by the government and public. The figures that are gathered and calculated by the BEA include national income and product accounts (NIPAs), including the GDP.
Tables of Note:
According to the official BEA website, there are four major programs in which the agency operates.
National Accounts: BEA’s national economic statistics provide a comprehensive view of U.S. production, consumption, investment, exports and imports, and income and saving. These statistics include, gross domestic product (GDP), corporate profits, personal income and spending, and personal savings.
Regional Account: The regional economic accounts describe the geographic distribution of U.S. economic activity and growth. The estimates of GDP by state and state and local area personal income, and the accompanying detail, provide a consistent framework for analyzing and comparing individual state and local area economies.
Industry Accounts: The BEA prepares and publishes a variety of Economic statistics on U.S. industries. Specifically, it prepares the annual industry accounts, the benchmark input output accounts, and the travel and tourism satellite accounts for the United States.
: The BEA prepares and publishes estimates of transactions between U.S. and foreign residents and of the value of accumulated stocks of U.S.-owned assets abroad and of foreign owned assets in the United States. These estimates are presented in the international transactions accounts and the international investment position accounts and are used to determine U.S. surplus or deficits.